The Effect of War on Online Businesses
Can war affect online business at all? The answer is YES! War can affect online businesses only in the country where the war is taking place, that is, the country affected by the war.
Mostly, online business has to do with buying and selling. Businesses are put online to create awareness to the peole surfing the internet. The companies operating online business still need to move around to deliver the goods which people order online.
War can also force most of these companies to shut down, thereby affecting the operations of these companies.
Even, war can cause the internet of the affected places to be shut down thereby preventing people in the affected areas to access the internet.
Online business still has much more advantages over other forms of businesses because online business can still be ongoing during the time of war if the internet is still on in some cases.
Many business’ owners have already moved their business online during the covid pandemic. Covid-19 has necessitated that many businesses conduct investor meetings over Zoom, run marketing campaigns online and accept digital contactless payments.
According to survey of small businesses in Pennsylvania conducted by PNC Financial Services Group, Inc. (via WESA), about 79% of business owners made changes to adapt in response to the crisis, with 33% adding work-from-home policies for employees.
As PNC chief economist Gus Faucher expressed: “Businesses have also increased their use of technology. So, for example, instead of doing person-to-person sales, they may be doing sales over the internet.”
Many companies are going virtual for investor meetings, which is safer and more affordable. These virtual, more economical approaches to business are likely to become permanent even after the impacts from the pandemic wane.
SEE ALSO : NEGATIVE EFFECTS OF RUSSIA-UKRAINE WAR ON USA AND GLOBAL ECONOMY
The Effect of War on Online Businesses